Simulations were conducted in MCNP6.1 modeling the neutron fluence through a cryogenically cooled 132Xe target to optimize activation rates from a neutron generator source. These simulations evaluated a combination of moderator and reflectors materials with DT and DD neutrons to model the changes in the activation rates of 133Xe, 133mXe, and 131mXe as a function of thickness. 133Xe and 133mXe activation rates were simulated to increase by 31%, 16% respectively with a light water reflector 128 mm in thickness. Production of 131mXe had a simulated increase of 2.7% with a graphite reflector 85 mm in thickness.